Vertically integrated multi-state operator of cannabis licenses Acreage Holdings, Inc. ACRG ACRGF announced Tuesday the opening of its first cannabis cultivation facility in the Pacific Northwest.
The new 30,000 sq. foot indoor cultivation facility is located in Medford, Oregon. It will cultivate cannabis for use in a variety of new products, that would be represented by The Botanist, which is a health and wellness-oriented, and, Tweed, a Canopy Growth brand.
Acreage projects to introduce more products in the near future. The new facility will see its first harvest in December, and soon after The Botanist and Tweed products should hit the shelves in the company’s and other dispensaries.
“We are proud to open our new Oregon facility in an area renowned for producing some of the best cannabis in the world,” Acreage Chairman and CEO Kevin Murphy said in a statement. “We are particularly excited to introduce the Tweed brand to U.S. consumers for the first time. It’s a further indication that our arrangement with Canopy Growth is yielding opportunities to accelerate Acreage’s growth.”
Acreage’s shares traded 1.6% lower at $5.89 on Tuesday.
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